The Philadelphia 76ers' new owners -- including actors Will and Jada Pinkett Smith -- announced Tuesday at their introductory press conference that they will slash prices by 50% or more on thousands of tickets.
The ownership group, led by Joshua Harris, co-founder of Apollo Global Management LLC, is buying the team from Comcast-Spectacor, reportedly for $280 million. The Smiths -- Will is a Philadelphia native -- are among numerous minority owners.
Ed Stefanski will not be retained as general manager. Rod Thorn will now serve as president and GM.